Auto Loan Defaults Hit 30-Year High as Financial Pressures Mount
Car loan delinquencies have reached their highest level since 1994, with over 6.5% of subprime borrowers falling behind on payments. The crisis reflects broader economic challenges as Americans struggle with record-high car payments, depleted savings, and persistent inflation impacts.
Honda and Nissan Consider Historic Alliance Amid EV Industry Pressures
Japanese automakers Honda and Nissan confirm exploring collaboration options, including a potential holding company structure, driven by electric vehicle development costs and global competition. The partnership talks between the two companies, which delivered 7.4 million vehicles in 2023, could create one of Japan's largest automotive groups.
O'Reilly Automotive Shares Dip Despite Strong Growth and Ambitious 2024 Outlook
O'Reilly Automotive experienced a minor stock decline despite posting record 2023 revenues of $15.81 billion and projecting continued growth. The automotive parts retailer maintains an optimistic 2024 outlook with plans to open 190-200 new stores across North America.